Kingstone Companies, Inc (KINS) Downgraded by Zacks Investment Research to Hold
Kingstone Companies, Inc (NASDAQ:KINS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “
Separately, Boenning Scattergood reiterated a “buy” rating on shares of Kingstone Companies in a research report on Friday, August 11th.
Kingstone Companies (NASDAQ KINS) remained flat at $16.55 during trading on Wednesday. The company’s stock had a trading volume of 38,971 shares. Kingstone Companies has a 52 week low of $9.81 and a 52 week high of $16.95. The stock has a market capitalization of $175.93 million, a PE ratio of 15.84 and a beta of 0.77. The company has a 50-day moving average of $15.46 and a 200 day moving average of $15.37.
Kingstone Companies (NASDAQ:KINS) last released its earnings results on Thursday, August 10th. The insurance provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.10). Kingstone Companies had a return on equity of 12.81% and a net margin of 11.52%. The business had revenue of $16.95 million for the quarter, compared to analysts’ expectations of $17.30 million. The company’s revenue was up 12.9% compared to the same quarter last year. Analysts predict that Kingstone Companies will post $1.10 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new position in shares of Kingstone Companies in the 2nd quarter worth about $246,000. Laurel Wealth Advisors Inc. raised its holdings in shares of Kingstone Companies by 9.8% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 86,850 shares of the insurance provider’s stock worth $1,328,000 after purchasing an additional 7,730 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Kingstone Companies in the 2nd quarter worth about $139,000. State Street Corp purchased a new position in shares of Kingstone Companies in the 2nd quarter worth about $1,356,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Kingstone Companies in the 2nd quarter worth about $1,534,000. Institutional investors own 47.67% of the company’s stock.
About Kingstone Companies
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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